Technical Update - ASX 200 resumes bear trend. Could take out key support

Equity 2 minutes to read

Kim Cramer Larsson

Technical Analyst, Saxo Bank

ASX 200 seems to have resumed down trend after a 0.382 correction. The leading Australian index is set for a test of June lows at 6,407. With no divergence on RSI it is there is strong indication the June low will be taken out.
If that scenario plays out there is not strong support before around 6,200.
For this bearish scenario to be reversed a close above 6,764 is needed.

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Technical Update - ASX 200 resumes bear trend. Could take out key support

Kim Cramer Larsson

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